MWW at multi-year lows and breaking out.

I’ve been tracking MWW for a while and have been trading it once or twice. A few weeks ago it hit multi-year lows at $4.02/$4.03 and it appears as if a large abc correction has ended. Earnings last week were for the first time good, the stock exploded +17% intra-day, and is now trading well-above its 200d sma and 50w sma. Bollinger Bands on the daily are expanding, and there’s + div on the daily, weekly, monthly MACD and RSI. It may not mean new ATH over the next years, but IMHO it does mean some decent upside over the foreseeable future.  First serious R is at $.7.13 (weekly pivot), then $9.24 (weekly R1), 200w sma (now at $10.43 and falling), then $12.52 (weekly R2). IMHO the $7+ to $10 area are reasonable targets. But, one target at the time.  I am uncertain about the wave degree, but regardless believe I’ve counted it correctly. Note: only the monthly chart is shown.

MWW update 11102013


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